15 Percent Tariff: Thank You For Listening To Nigerians Mr President

Mr President, your decision to suspend the 15% tariff on petrol and diesel is more than a policy pause. It is a historic moment. It signals that, for the first time in twenty-six years of our democracy, a Nigerian President has chosen the people over monopoly. You have shown that leadership is not about bowing to the loudest interests, but about standing with the most vulnerable. For this, Nigerians say thank you.

For decades, successive administrations allowed a single businessman to shape the price of essential goods, from sugar to cement and more. In one administration after another, public policy bent in favour of monopoly, often disguised as “local content protection”.

Under previous administrations, import barriers turned cement into a cash cow for a few while Nigerians bore the cost. Over two decades, the same pattern continued, wrapped in nationalistic rhetoric but ultimately serving narrow interests. Where there was initial resistance, it eventually crumbled, and monopoly was always entrenched and rewarded.

This is the history that brought us here. A history where ordinary Nigerians paid more so that certain entities could dominate strategic sectors. A history where the pursuit of competition was treated as an inconvenience. A history where national resources became levers for private consolidation.

This  is why the decision to stop the 15% tarifff stands out. It breaks a pattern that has held the economy hostage for years.

Nigerians watched on television as an executive called you a boxer, and the nation cringed. He described your face as that of a boxer, and said you were ready to box instead of listening to the suffering of Nigerians. You proved that listening to Nigerians is not a weakness. It is strength.

But, Mr President, we are sure that the detractors are not done. They are already working tirelessly to mislead, armed with faulty figures and selective interpretations of the Petroleum Industry Act. They want to bring this tariff back to your table. They want to persuade you to hand the entire fuel market to a single private refinery under the guise of “cost recovery”. They want to convince you that Nigerians must pay through their noses today so one investor can break even tomorrow.

Sir, analysts have asked a simple but critical question. What happens if this refinery, still unable to meet national demand at the moment, suddenly fails to deliver before the next election season? What happens if maintenance issues arise? What happens if prices are increased without restraint? The entire burden will fall on your administration.

Nigerians will not blame the refinery. They will blame the government. Your government. Why should the price of fuel, the heartbeat of our entire economy, depend on a single supplier?

This is not just risky. It is dangerous.

Mr President, no country secures its future this way. Not when we do not even have confirmed local refining capacity of sixty percent, let alone eighty percent. Not when the only reliable alternative is importation. Not when policy mistakes can create nationwide scarcity overnight.

This refinery was a bold investment. It will succeed. It will make money. But it does not need to break even on the backs of the poor within one year. It is a generational project. Let it mature at a responsible pace. Let competition thrive. Let poor Nigerians breathe.

This is why the suspension of the tariff means so much. The real bulk stops on your table.

Millions of households who have endured years of hardship are hoping you hold the line.

Nigeria cannot afford to be reduced to a company town. Not

Thank you for choosing Nigerians over monopoly.

God bless the Federal Republic of Nigeria.

–  Rotimi Matthew is a lawyer, policy and governance analyst